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National Bank of Canada's profit jumps, helped by year-ago charge
March 1, 2017 / 11:49 AM / 7 months ago

National Bank of Canada's profit jumps, helped by year-ago charge

March 1(Reuters) - National Bank of Canada said its first-quarter profit surged 90.4 percent compared with the year-ago period, when it took a write-off charge of C$236 million ($177 million).

Canada’s sixth-largest bank said its net income rose to C$497 million, or C$1.34 per share, in the latest quarter from C$261 million, or 67 Canadian cents per share, a year earlier.

Total revenue rose 26.7 percent to C$1.63 billion in the quarter ended Jan. 31, the bank said on Wednesday. ($1 = C$1.3314) (Reporting by Ahmed Farhatha in Bengaluru; Editing by Savio D‘Souza)

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